South-Eastern Asia: Silver Ore Market 2024

Silver Ore Market Size in South-Eastern Asia

In 2021, the Southeast Asian silver ore market increased by 115% to $X, rising for the fourth consecutive year after two years of decline. In general, consumption enjoyed significant growth. The level of consumption peaked in 2021 and is expected to retain growth in years to come.

Silver Ore Production in South-Eastern Asia

In value terms, silver ore production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a significant expansion. The pace of growth was the most pronounced in 2020 when the production volume increased by 602%. The level of production peaked in 2021 and is likely to see gradual growth in years to come.

Silver Ore Exports

Exports in South-Eastern Asia

In 2021, overseas shipments of silver ores and concentrates decreased by -69.6% to X tons, falling for the fourth year in a row after three years of growth. Over the period under review, exports continue to indicate a precipitous shrinkage. The pace of growth was the most pronounced in 2013 with an increase of 329% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, silver ore exports shrank dramatically to $X in 2021. In general, exports recorded a mild downturn. The most prominent rate of growth was recorded in 2015 with an increase of 597% against the previous year. The level of export peaked at $X in 2020, and then plummeted in the following year.

Exports by Country

Vietnam was the main exporting country with an export of about X tons, which finished at 45% of total exports. Myanmar (X tons) held the second position in the ranking, followed by Indonesia (X tons) and Malaysia (X tons). All these countries together took approx. 55% share of total exports.

Exports from Vietnam decreased at an average annual rate of -15.7% from 2012 to 2021. At the same time, Myanmar (+72.5%), Malaysia (+40.5%) and Indonesia (+12.4%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +72.5% from 2012-2021. Vietnam (+38 p.p.), Myanmar (+22 p.p.), Indonesia (+21 p.p.) and Malaysia (+11 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X), Myanmar ($X) and Malaysia ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 97% share of total exports.

Among the main exporting countries, Myanmar, with a CAGR of +75.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, growing by 82% against the previous year. Over the period under review, the export price continues to indicate a significant expansion. The growth pace was the most rapid in 2019 when the export price increased by 1,134%. The level of export peaked in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Indonesia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+10.3%), while the other leaders experienced more modest paces of growth.

Silver Ore Imports

Imports in South-Eastern Asia

For the third year in a row, South-Eastern Asia recorded growth in supplies from abroad of silver ores and concentrates, which increased by 15% to X tons in 2021. Over the period under review, imports recorded prominent growth. The growth pace was the most rapid in 2017 with an increase of 222%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, silver ore imports declined rapidly to $X in 2021. In general, imports, however, recorded a drastic downturn. The pace of growth appeared the most rapid in 2017 with an increase of 480% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Lao People's Democratic Republic prevails in imports structure, finishing at X tons, which was approx. 87% of total imports in 2021. It was distantly followed by Malaysia (X tons), making up a 5.2% share of total imports. The following importers - Indonesia (X tons) and Vietnam (X tons) - together made up 5.6% of total imports.

Lao People's Democratic Republic was also the fastest-growing in terms of the silver ores and concentrates imports, with a CAGR of +99.1% from 2012 to 2021. At the same time, Indonesia (+11.5%) and Vietnam (+8.9%) displayed positive paces of growth. By contrast, Malaysia (-13.1%) illustrated a downward trend over the same period. Lao People's Democratic Republic (+87 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia saw its share reduced by -52.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) constitutes the largest market for imported silver ores and concentrates in South-Eastern Asia, comprising 59% of total imports. The second position in the ranking was held by Lao People's Democratic Republic ($X), with a 22% share of total imports. It was followed by Indonesia, with a 7.9% share.

In Malaysia, silver ore imports decreased by an average annual rate of -16.2% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Lao People's Democratic Republic (+39.1% per year) and Indonesia (+10.8% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, shrinking by -38.4% against the previous year. In general, the import price faced a dramatic setback. The most prominent rate of growth was recorded in 2017 when the import price increased by 80% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Malaysia ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (-0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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